PUBLISHER: Allied Market Research | PRODUCT CODE: 1645700
PUBLISHER: Allied Market Research | PRODUCT CODE: 1645700
North America Vaccines Market
The North America vaccines market was valued at $18.0 billion in 2023 and is projected to reach $32.1 billion by 2033, growing at a CAGR of 5.9% from 2024 to 2033.
A vaccine is a biological preparation comprising killed, weakened, or fragmented disease-causing microbes administered into human body to protect against specific disease. Another category of vaccines consists of mRNA, antibodies, or lymphocytes for the prevention of diseases. Vaccines either provide active immunity by stimulating the antibody-producing B cells or they activate passive immunity of individuals via antibodies & lymphocytes.
The establishment of several laws and plans pertaining to vaccination, such as the National Vaccine Plan, is a key driver of the North America vaccines market. Furthermore, the well-developed health infrastructure of North America, including efficient cold-chain storage solutions and trained healthcare workers enhances the accessibility of vaccines and propels the market development. Currently, the development of compound vaccines is trending in North America. Scientists are striving to form vaccines consisting of different antigens from bacteria, viruses, and other microorganisms, which results in the generation of one formulation that offers protection against multiple diseases.
However, the extensive development and approval process established by the U.S. Food and Drug Administration results in delayed availability of vaccines, which hampers the development of the market. Moreover, rise in hesitancy among individuals regarding the efficacy of vaccines, particularly among parents has resulted in declined vaccination rates and restrained market growth. For instance, according to the Center for American Progress-a policy research and advocacy organization-the percentage of parents considering vaccines important for their children fell from 94% in 2001 to 69% in 2024. Contrarily, ongoing research studies and experiments for the development of personalized vaccines that prevent the recurrence of lethal forms of cancers such as lung, breast, and bladder cancers are poised to open new avenues for the North America vaccines market.
Segment Review
The North America vaccines market is segmented into technology type, indication, end user, and region. On the basis of technology type, it is divided into inactivated vaccines, toxoid vaccines, recombinant & conjugate vaccines, live attenuated vaccines, and others. As per indication, it is classified into pneumococcal disease; influenza; human papilloma virus; meningococcal disease; rotavirus; varicella; measles, mumps, & rubella; diphtheria, pertussis, & tetanus (DTP); polio; hepatitis; and other indications. According to end user, it is categorized into pediatric, adults, and travelers. Country wise, it is analyzed across U.S., Canada, and Mexico.
Key Findings
On the basis of technology type, the recombinant & conjugate vaccines segment was the highest shareholder in 2023.
Depending on indication, the human papilloma virus segment held a notable share of the market in 2023.
As per end user, the pediatric segment dominated the market in 2023.
Competition Analysis
The leading players in the global North America vaccines market include Bavarian Nordic A/S, Merck & Co., Inc., Sanofi, Pfizer, Emergent Biosolutions, CSL, Moderna, Inc., Dynavax Technologies, Novavax, and GSK plc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.
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